Specifically, the exhibit -- dubbed "Elsa Schiaparelli and Miuccia Prada: On Fashion" -- will put the work of the two Italian designers side-by-side and imagine them in a conversation of sorts, looking their work as both ground-breaking and deeply tied to the art world. In a release, the museum emphasized especially the role of various art movements in the designers' body of work:

"Given the role Surrealism and other art movements play in the designs of both Schiaparelli and Prada, it seems only fitting that their inventive creations be explored here at the Met," said Thomas P. Campbell, Director and CEO of The Metropolitan Museum of Art. "Schiaparelli's collaborations with Dalí and Cocteau as well as Prada's current Fondazione Prada push art and fashion ever closer, in a direct, synergistic, and culturally redefining relationship."

The exhibit will run May 10 - August 19, 2012, and will be spearheaded by honorary chariman Jeff Bezos of Amazon, as well as co-chairs Carey Mulligan, Miuccia Prada, and Anna Wintour. In an interesting twist, Moulin Rouge director Baz Luhrmann will be the exhibit's creative consultant.